Risk.net

Nvesta to be bought out this week

Nvesta’s parent, Eurolife Assurance Group (EAG), went into administration in August 2006. Restructuring proposals were submitted in March last year in order to make the repayment to the bondholders, and EAG initially planned to dispose of its entire shareholding in Nvesta before June 2008. That plan has been brought forward to this week.

Nvesta is closed to new business at present but remains solvent and continues to operate. Following a cost-reduction exercise in November 2006, a few member